TENANTS OFTEN DEFAULT IN THE PAYMENT OF RENT LANDLORDS MAY PROTECT THEMSELVES BY TAKING A GUARANTOR Why have a guarantee? If the tenant defaults in paying the rent or breaches some other obligation of the tenancy, the guarantor can be required to pay. This...

Except for a tenancy taking effect in possession with a term not exceeding 3 years [s.2(5)(a) Law of Property (Miscellaneous Provisions) Act 1989], a contract for the disposition of an interest in land (which includes tenancy agreements) can only be made in writing...

In order to have a valid contract, there must be offer, acceptance and consideration. Consideration is something of economic value which is why often you see companies being purchased for £1.00. If no money was paid, it could be argued there was no contract which is...